Ackman Overhauls Portfolio in Biggest Change in Years with New Netflix and Visa Holdings

Bill Ackman has overhauled his investment portfolio in its biggest change in years. The billionaire investor revealed six new holdings, including Netflix, Visa, and Mastercard. These additions come after Ackman's funds were down for the year, with Pershing Square USA down 3.5% through July.

Ackman believes that the firms' earnings are poised for strong growth, which he views as the greatest driver of investment value over time. The new holdings also include eye care firm Alcon and exchange operator Intercontinental Exchange. Financial data provider S&P Global is another addition to Ackman's portfolio.

Shares of the firms were mostly higher on Thursday morning, with Netflix rising 3.3% and S&P Global adding 1.1%. Pershing Square USA shares were up 1.7% following the investment disclosures and second-quarter earnings released on Wednesday evening.